by our College Data Analytics TeamRather than paying the full sticker price for a college education, most students receive a financial aid package that eases the burden with scholarships, grants, loans, and work-study options, while the amount and type of aid may vary among students.
What amount of Baylor financial assistance will actually be available to you?Get answers to your questions here.
$25,122.00 is the typical Baylor University’s first year financial aid package. Approximately 95% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from Baylor University you could end up dealing with.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The following numbers apply to scholarships and grants largely offered by the school itself.
93% of new students (3070 total) were offered scholarships at Baylor University, averaging $23,203.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 25% of first years (820 total) were awarded federal grant aid, averaging $4,978.00 each.
Amount of Financial Assistance Per Income Level
The following table displays scholarship and grant allocations by family income for freshman students receiving any kind of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 7.21% | $39,242.00 |
| Income 30k-48k | 4.42% | $34,057.00 |
| Income 48k-75k | 6.54% | $33,315.00 |
| Income 75k-110k | 7.60% | $30,238.00 |
| Income 110k + | 23.16% | $21,247.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
Of the 3303 undergraduate students at Baylor University around 95% (3080 total) receive some form of grant aid. The typical amount awarded was $25,122.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.